Kathy Lien details her EUR/JPY trade that she gave on CNBC.

There is a very old saying in the stock market that goes "Sell in May, and Go Away." This pertains to the notion that investors should cash in on their investments this month and take the summer off because June, July, August and September have traditionally been some of the worst months in the equity market.

Since Standard & Poor's cut the ratings of nine Eurozone countries, the euro has done nothing but rally.

From the most flimsy to the most aggressive, Kathy Lien gives us five options of the Federal Reserve.

Even though ECB President Trichet was quite clear last week in signaling that rate hikes are not over, based upon interest rate futures, investors are actually pricing in no rate hikes.

Contagion fears have rattled the markets today with everyone worried about the crisis spreading to Italy.

Why has the rally in the EUR been so lackluster? Because there are a still more hurdles to overcome before we can put the Greek debt crisis behind us.

What does it mean for euro traders?

The big focus tomorrow is on ECB President Trichet's press conference. The European Central Bank is not expected to raise interest rates, but Trichet is expected to pave the for a rate hike in July.

The Reserve Bank of Australia left interest rates unchanged at 4.75 percent. Many investors were looking for hawkish comments from the central bank but as suspected, the RBA failed to deliver.